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LinkedIn to Buy Popular News Reading App

Reports say Microsoft and Yahoo are also interested in the app


LinkedIn LNKDSocial networking website LinkedIn (NYSE:LNKD) is reportedly negotiating the purchase of Pulse, a newreading app maker.

Unnamed insider sources tell AllThingsD that the deal will be priced between $50 million and $100 million. But LinkedIn could have competition. Other reports say that Yahoo (NASDAQ:YHOO) and Microsoft (NASDAQ:MSFT) are also in talks to buy the app.

Urine Tests … There’s an App for That
Urine Tests … There’s an App for That

More than 10 million news articles are read on the Pulse app every day. Alphonso Labs, the app’s developer has received $10 million in financing from a variety of private equity and investment firms.

The Pulse app has about 20 million users.

Shares of LinkedIn sank almost 2% in Tuesday trading.

Article printed from InvestorPlace Media, http://investorplace.com/2013/03/linkedin-to-buy-popular-news-reading-app/.

©2017 InvestorPlace Media, LLC